Clifton Gunderson LarsonAllen Announce Plans to Merge
Post on: 2011-11-02 By: admin
MILWAUKEE & MINNEAPOLIS--(BUSINESS WIRE)--Clifton Gunderson and LarsonAllen, ranked as two of the nation’s top 20
certified public accounting and consulting firms, today announced plans
to merge and form one of the top 10 accounting firms in the United
States. The partners of both firms have agreed to the combination.
Pending final approvals, the merger will take effect Jan. 2, 2012. The
new firm will be named CliftonLarsonAllen (CLA).
“Coming together heightens our
capacity to develop that vital focus and extend it beyond our accounting
and advisory services to our wealth management and outsourcing
CLA will bring together two firms of significant magnitude to offer
unprecedented emphasis on serving privately held businesses and their
owners, as well as entities in the public sector — not-for-profits and
governmentals. Access to a firm with a top 10 presence and capabilities
committed to serving primarily these types of clients is rare. The new
firm will have more than $550 million in combined revenue, employ more
than 3,600 professionals, including 500-plus partners, and will operate
from 25 states and Washington, D.C.
CLA will have a dominant presence in the accounting profession with its
highly specialized capabilities in the health care, financial
institutions, governmentals, not-for-profits,
manufacturing/distribution, construction, real estate, agribusiness,
dealerships, employee benefit plans and other industries, in addition to
its strong technical foundation in audit, accounting and advisory
“This merger of peer firms changes the landscape of the accounting
profession and pioneers a new trend by focusing primarily on private
companies and their owners,” said Clifton Gunderson CEO Kris McMasters.
“We will be the firm of choice, the champions and leading resource
center for privately held companies, proactively addressing their needs
with our comprehensive suite of services. The firm will be positioned as
the go-to source of information, knowledge and unique offerings for
owners and leaders looking for assistance in achieving their personal
and business dreams and objectives.”
Gordy Viere, CEO of LarsonAllen, said industry specialization has been
at the core of both firms’ practices. “Coming together heightens our
capacity to develop that vital focus and extend it beyond our accounting
and advisory services to our wealth management and outsourcing
capabilities,” he said. “This cohesive trio of industry-focused guidance
is uncommon for private businesses and public sector organizations. It’s
a powerful new resource for them.”
CLA will have a national wealth management practice positioned as one of
the top three in the accounting profession, with nearly $3 billion in
assets under management. The combined firm will boast a $50 million
industry-specialized outsourcing practice to help clients meet their
financial, tax regulatory compliance and reporting responsibilities. In
addition, CLA will have the capacity to help clients with international
dealings successfully do business in a global environment.
Organizational structure
Organizationally, the new firm will be built around a holding company
and three entities: CLA LLP, CLA Wealth Advisory and CLA Outsourcing —
all integrated in their capabilities and delivery of services. Both
Viere and McMasters are proven leaders and peers in the accounting
profession, having been recognized for their strong leadership. They
will continue as CEOs within the integrated CLA firm. Viere will oversee
the CLA holding company, the wealth advisory practice and the
outsourcing practice, and McMasters will oversee CLA LLP, the public
Helping people build careers
This union brings together two firms that have a culture of maximizing
and growing the strengths of their people through progressive and
innovative career development strategies and programs. Both firms have
received significant recognition for their workplace practices. The two
leaders share a passion for ensuring their professionals have the tools
and experiences to build great careers customized to their individual
long-term goals. CLA will offer employees flexibility, career choice,
learning programs and experiences designed to attract people who want to
develop themselves into well-rounded business and financial
professionals, while pursuing their chosen specialty.
About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified
public accounting and consulting firms and the largest U.S. member firm
of HLB International, provides a wide range of assurance, tax and
consulting services to clients in a variety of industries. Founded in
1960, Clifton Gunderson has a staff of more than 1,800 professionals
serving clients from 47 offices across the country. Clifton Gunderson,
and the separate and independent member firms of HLB International,
provides personal and high-quality service to clients in over 100
countries through the HLB International “Global Care” approach. For more
information about Clifton Gunderson, visit www.cliftoncpa.com.
LarsonAllen LLP (LarsonAllen) is a highly industry specialized firm that
ranks as one of the U.S.’s top 20 accounting/professional services firms
that provides audit, accounting, tax, consulting, and advisory services.
Founded in 1953, LarsonAllen has approximately 1,800 people operating
from 40 offices located in Arizona, Florida, Idaho, Illinois,
Massachusetts, Minnesota, Missouri, North Carolina, Pennsylvania, Texas,
Washington, Washington, D.C., and Wisconsin. LarsonAllen is an
independent member of Nexia International, a top 10 worldwide
organization providing services to clients globally. For more
information about LarsonAllen, visit www.larsonallen.com.
[Note to media:] For more information, images and
ready-to-publish content, visit www.cpamergermedia.com.
Media Contacts:Jennifer Dirks, Clifton GundersonDirector of
Communications(414) 721-7646Jennifer.Dirks@cliftoncpa.comorJen
Sengpiel, LarsonAllenCommunications Manager(314) 925-4368JSengpiel@larsonallen.com
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Article original from: http://www.businesswire.com/news/home/20111101005977/en/Clifton-Gunderson-LarsonAllen-Announce-Plans-Merge
